Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. Dalata group grows in size, RevPAR
Dalata Hotels [LON:DAL] has issued a trading update for the second half of 2023, noting group RevPAR is set to be 3% higher against the comparative period in 2022 and that a strong pipeline of new openings remains on track for 2024. Revenues for the full year are expected to exceed EUR600m, up from EUR516m, whilst EBITDA is set to improve by around 20%.
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#2. NWF: tough comparatives make for challenging H1
NWF Group LON:NWF also have a trading update out this morning. Volatile underlying prices had proved favourable for the company in FY23, but with market conditions normalising, profitability has been squeezed in H1 ’24 as expected. Management note that the winter season tends to be somewhat more material for the company’s performance and there’s confidence that the full year numbers will be in line with expectations.
#3. Cohort: geopolitical woes boost order book
The independent technology group Cohort LON:CHRT has half year numbers out today, noting revenue, profit and order book improvements against the comparative period, driven by ongoing geopolitical tensions. The interim dividend is being increased by more than 10%, with higher sales to the MOD being seen as instrumental in boosting performance. The full year outlook remains unchanged and medium term prospects have also been bolstered, with news that on-order revenues are now deliverable out to 2033.
